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Are you Controlling the Recession, or is it Controlling You ?

The worldwide recession is a monster that has suddenly jumped upon the world causing much chaos everywhere. Till mid 2008, things were going along fine, though the circumstances seemed to be deceptively calm - like the lull before a terrible storm. And then it happened. Before we knew it, the sub prime crisis broke over the unsuspecting financial world like a massive tsunami and left the global economy in a humongous mess with thousands of companies and millions of people affected in its dreadful wake. When companies like Lehman Brothers, Bear Sterns and even GM have bitten the dust, you can just imagine the extent of the devastation that has been unleashed.

If you have a company that has weathered the storm and is still surviving, you need to ask: “Are you controlling the recession, or is it controlling you?” This is important, as the resilience and strength of a company lies not in being tossed around and just about surviving by the very skin of one’s teeth. Rather, it is the ability to turn the situation around and catch the bull by its horns and indeed beat it at its own game. Beating the recession and overcoming it is not a child’s play. Rather, it is mean and serious business as it implies that you should have the foresight, the vision as well as the means to come up trumps when everyone else is buckling down all around you. This implies that your products or services need to have the ability to weather the recession and are recession-proof. When the going is good, the rising tide really raises all boats. But the true test of a company lies in whether it is able to adapt itself nimbly to changed and adverse circumstances, not reactively but proactively.

If you want to control the recession, you need to consider that when orders are lower and the off-take of inventories is slow, what measures are you taking to boost up demand? Another tactical move could be to engage your workforce in research and development to come up with innovative products, and new solutions as well as services that could help you enhance the demand and have customers queuing up outside your door. If employees have less work, you could train and coach them so that they can ‘sharpen the saw’ and create conditions that mimic the good times, right during the recession. You can also use the opportunity to spread your net far and wide by looking at new markets, unexplored territories and marketing strategies that could help you beat the recession fairly and squarely.

So, take a minute and pause to think ‘Are you controlling the recession, or is it controlling you?’ The answer could be an eye opener for you that could save your business in these tough times.

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